Locked content KNF approves OncoArendi IPO prospectus

The Financial Supervision Authority approved the IPO prospectus of a biotechnological firm OncoArendi Therapeutics, which specializes in oncological pharmaceuticals. The company plans to offer 500k-2 million new shares under its IPO planned for the turn of March and April, the company said. “The com...

Locked content KNF recommends banks pay 75-100% of profits in dividend payouts

Financial Supervision Authority KNF said that it recommends banks to pay out 75-100 percent of its profits in dividends in the medium term. Full dividend payout ratios will be allowed for banks that would fulfill the same criteria even in a stress test scenario, the KNF said in a confirmation of cur...

Locked content Bank tax reached PLN 3.6 bln in 2017 – KNF

The value of the banking tax paid by lenders last year amounted to PLN 3.63 billion, the Financial Supervision Authority said. “Last year, banks made a profit of PLN 13.6 billion. This is 2.3 percent lower than the year before however, this difference is primarily due to a one-off sale of shares Vis...

Locked content KNF: Banking sector profit drops 2.3% in 2017

The banking sector recorded an aggregated net profit of PLN 13.6billion last year, according to data from the Financial Supervision Authority (KNF), representing a 2.3 percent decline y/y. Net income from banking activity stood at PLN 61.76 billion and increased by 4.1 percent y/y. Banks’ net intere...

Locked content OFE assets grow in January

Net assets under management of open pension funds (OFE) totaled PLN 183 billion at the end-January, up by 2.6 percent m/m, the Financial Supervision Authority KNF reported. The three biggest funds in terms of net assets (out of 11 currently operating) are: Nationale-Nederlanden OFE (PLN 45.9 billion...

Locked content KNF: number of branches, employees in the banking sector drops

The number of branches of the nationwide banking branches decreased at the end of November by 400 branches to 6,699, Financial Supervision Authority KNF said. At the same time, the number of affiliates and other customer service centers has decreased to 3,947 from 4,394 a year before. Furthermore, a...

Locked content KNF: OFE assets reach PLN 179.5 bln at end-17

Net assets under management of open pension funds (OFE) totaled PLN 179.53 billion at the end of 2017 compared with PLN 153.43 billion a year earlier, the Financial Supervision Authority KNF reported. The three biggest funds in terms of net assets (out of 11 currently operating) are: Nationale-Neder...

Locked content ING secures KNF approval to set up mortgage unit

The Financial Supervision Authority KNF approved the ING Bank Ślaski motion to set up a mortgage bank. The decision was unanimous with KNF approving the new unit’s management board as well. Mirosław Boda was appointed its CEO. In accordance with the approved bank statute, the subject of activity of ...

Locked content KNF blocks Raiffeisen’s attempt to launch new bank

The Financial Supervision Authority KNF unanimously voted against granting Raiffeisen Bank approval to set up a new bank. KNF explained that under the Polish banking law, it can’t approve setting up a new banking unit by a lender that failed to meet all the criteria set up when the unit was being es...